by Bill Holter, Miles Franklin:
Yesterday (as reported by Zero Hedge) Bart Chilton, one of the CFTC commissioners said that they need to investigate “Bitcoin” because as he put it, “This is not monopoly money – real people have real risk in these instruments.” Yes very “real” so to speak. This is a “cyber” currency with no “touchy feely” actual coins, there are no derivatives (yet) like options or futures and as for the “size” of this market we are talking about just north of a whopping $1 billion. I don’t mean to sound crass here but $1 billion? Jon Corzine stole $1.6 billion just a couple of years ago. He took this money from “real people” unless you think of farmers as alien holograms. Here we are nearly 2 years later and we hear nothing but crickets about MF Global and the dishonorable Jon Corzine walks the streets a free man. What’s up with this?
No I haven’t forgot about the other investigation, you know… the one nearly 5 years old looking into the forced silver crash of 2008. I was worried a month or two back that the statute of limitations would run out before the CFTC finished their “extensive” investigation and let the culprits off the hook, that’s no longer a problem as the clock just got reset with the latest blatant manipulation.
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